The trial of Olisa Metuh with respect to the charges of money laundering involving the sum of N400m which was allegedly collected from the office of the National Security Adviser in November 2014 took a new dimension on Monday as the Economic Financial Crimes Commission (EFCC) made available 18 witnesses it lined up against the PDP National Publicity secretary. One of the witnesses, Nneka Ararume told the court that she works for ARM as a Wealth manager, and also confirmed that she collected $2m cash from Metuh on December 2, 2014 with an instruction to invest the money on behalf of Metuh's Company, Destra Investments Limited. She also told the court that the cash was given to her in Metuh'd residence in Prince and Princess Estate, Abuja.
According to Ararume, ARM had been managing Destra’s funds before she joined the financial services company in April, 2013. Ararume, who said she managed Destra Investments Limited’s funds with ARM, explained that she proceeded to change the $2m, which she collected from Metuh, to its naira equivalent through two bureau de change operators.
Ararume, who was led in evidence by Tahir, said on December 2, 2014, which was about 11 days after N400m was allegedly paid into Destra’s account by the Office of the NSA on November 22, 2014, Metuh invited her to his home at Prince and Princess Estate in Abuja, asking her to come along with her companies brochure on different types of investments available.
She said, “Metuh gave me the sum of $2m in $100 bills. It was taken to bureau de change operators, who would then transfer the money to ARM. From there (Metuh’s house), I proceeded to Mr. Sie Iyenome’s office at Wuse 2, where I gave him the sum of $1m.
“I also invited Mr. Kabir Mohammed and I also gave him the sum of $1m to transfer the naira equivalent in favour of Destra Investment Limited.
“Later on the same day, December 2, 2014, Mr. Kabir and Mr. Sie Iyenome confirmed the receipt.”
The defence also sought an adjournment after Ararume completed her testimony.
But Justice Abang upheld the prosecution’s objection to the request for an adjournment, which was basically anchored on the same grounds earlier canvassed by the defence.
Under cross-examination by the defence counsel, Ararume said Destra, owned by Metuh, had been ARM’s client before she was employed by the financial services company in April 2013.
The witness answered negative when asked if she knew “how long it took the defendants to accumulate the money he gave you”.
The EFCC also called Iyenome, one of the bureau de change operators engaged by Ararume to change $1m out of the total $2m she received from Metuh to naira.
Iyenome said he never knew Metuh but only got to know of his company, Destra, on December 2, 2014, when Ararume forwarded the company’s account details to him for the payment of the naira equivalent of $1m he received from her.
Under cross-examination, the witness, who said he believed he was carrying out “a valid transaction”, also told the court that it was the practice in the foreign exchange business to ask for the purposes which funds, brought by customers, were meant for.
He said, “Most times the question for the purpose the money is meant is done verbally, just for due diligence.
“This was a brokering transaction. I’m not the one using the dollar. Even at that, I asked who was selling and Nneka said it was her client at ARM, which was as good as a bank was selling to you.”
Under re-examination by the prosecutor, Iyenome confirmed that there was a limit imposed by law as to how much cash a bureau de change operator could transact with.
He said, “I am aware of some, I can’t name all of them. I’m aware that to sell to an individual travelling outside the country, the limit is $4,000, and for a business, the limit is $5,000.”
Justice Abang adjourned further trial till Tuesday with an instruction to the prosecution that all the prosecution witnesses must be present in court.
He fixed Wednesday for the hearing of Metuh’s bail variation application.
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